Armira Growth invests around EUR 30 million in EV battery diagnostics specialist AVILOO

The Austrian battery diagnostics provider AVILOO is receiving a strategic investment of around EUR 30 million. As part of the transaction, Armira Growth and Invest AG are acquiring all shares of the previous investor European Innovation Council Fund (EIC) and will become central shareholders alongside Raiffeisen KMU Invest. The transaction is still subject to antitrust approvals.

From start-up to global market leader in a growing future market

Since its foundation in 2018, AVILOO has developed from an Austrian start-up into a leading global provider of independent battery diagnostics for used electric vehicles and plug-in hybrids. The investment is intended to finance further growth and strengthen the company's position as a leading provider in this segment. CEO Marcus Berger and founders Wolfgang Berger and Nikolaus Mayerhofer, who continue to hold a significant stake in the company, will remain in charge of operations.

Diagnostics as the key to trust in the used car market

AVILOO offers manufacturer-independent analyses of battery condition ("State of Health") that go far beyond simple data readouts. The tests are easy to use, deliver results in around three minutes and are already compatible with more than 96 percent of electric vehicles in use worldwide. By transparently assessing battery quality, the company is addressing one of the key value factors in the used e-vehicle trade.

Data-based technology as a competitive advantage

The diagnostics solution combines specially developed hardware and software with data-driven analysis. It is based on a constantly growing database from over 550,000 tests carried out, which maps real battery performance across vehicle models, usage profiles and life cycles. This data structure is a key differentiating factor compared to traditional diagnostic providers.

International customer base and highly scalable model

AVILOO now serves more than 750 customers in over 30 countries, including dealer networks, leasing and fleet providers, testing companies and automotive service providers. Manufacturers such as Hyundai and Mercedes-Benz are also already integrating diagnostics into their dealer structures. The company reports annual growth of more than 100 percent and is active in Europe, Asia, Australia and the USA.

Capital for expansion, partnerships and new products

AVILOO intends to use the fresh capital to drive forward its international expansion (primarily in the USA and Asia) and the development of new products. Several strategic market launches and partnerships are also planned for 2026. The aim is to establish independent battery diagnostics as the industry standard in the global e-mobility market in the long term.

Against the backdrop of expected strong growth in the global electric vehicle fleet, transparency regarding battery condition is becoming increasingly important.